According to the Ministry of Economy and Finance, this outlook was announced during a meeting between Deputy Prime Minister Kim Dong Yeon and officials from Fitch.

“This visit was a good opportunity to improve our understanding of the Korean economy. Moving forward, it’s important to maintain the country’s financial stability,” said the delegation from Fitch.

Deputy PM Kim said that Korea upgraded its credit rating to the fourth highest rating of “AA-” back in Sept. 2012 and has maintained it since. “The Korean economy has become more robust, and geopolitical risks were reduced following the inter-Korean and U.S.-North Korea summits.”

Underscoring improved inter-Korean relations and the progress made in denuclearization, the Deputy PM hoped that these factors would be considered by global credit rating agencies, and for two-way communication to continue in the future.